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CALAMBA, Laguna – Hyundai Asia Resources Inc. (HARI), the Philippines’ official distributor of Hyundai vehicles, in partnership with the Areza Group, recently held a groundbreaking ceremony for the new Hyundai Trucks & Buses dealership. Hyundai Trucks & Buses Calamba is expected to be open for business by June 2017.
Pictured: The groundbreaking ceremony of the Hyundai Trucks & Buses dealership soon to rise in Calamba Laguna. From left to right: Florencio …
The key to a sustainable corporate social investment lies in identifying one’s sense of purpose and, from there, grow one’s work to benefit both business and society. This was the key message of HARI Foundation, Inc. (HFI) President Ma. Fe Perez-Agudo at the Plenary Session of the 4TH Global Social Business Summit of Gawad Kalinga (GK), held at the Hyundai Center for Green Innovation (HCGI) at the GK Enchanted Farm in Angat, Bulacan. Summit theme was “Social Market: …
MANILA, Philippines - Hyundai Asia Resources Inc., the Philippines’ official distributor of Hyundai vehicles, has finally launched the new Hyundai Grand Starex Super Express in response to the fast-growing commuting needs of mobile Filipinos.
The Grand Starex Super Express is the commercial version of the best-selling Grand Starex, which has received a wide-range of awards (from Most Comfortable Ride, Best Safety Features, Best Engine Performance, Best Full-size People Carrier, …
“Nearing the close of 2016, a more favorable outlook is seen for the remainder of the year as Hyundai is likely to maintain its growth momentum, mirroring the vitality of the country’s economy and its fast-growing automotive industry. With an endless potential, the company will continue to relentlessly satisfy its customers with its line-up of modern premium products and services.” - Ma. Fe Perez-Agudo, HARI President and CEO Performance and Drivers Hyundai Asia …
Hyundai Asia Resources, Inc. (HARI) surprises customers with an early holiday promo. The Hyundai EON is now even more affordable with an amazingly low financing scheme. The “OMG (Oh My Greatest) EON Deals!” is made possible with HARI’s partnership with the country’s top banks. (L-R) Numeriano R. Cortez, Jr., SVP Trade Operations & Development Cluster, HARI; Israel S. Cruz, Department Head Auto Loans Division, BPI Family Savings Bank; Dennis T. Fronda, VP …
“As Hyundai sales cruised through another month in a positive note, HARI is expected to maintain its solid pace for the remainder of the year buoyed by strong growth in the economy fueled by robust household consumption.”
- Ma. Fe Perez-Agudo, HARI President and CEO
Performance and Drivers
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, registered a promising 6% year-on-year growth in July to a total of 1,952 units.
Hyundai’s positive sales track was sustained by brisk sales from the Passenger Car (PC) segment. PC sales hit a total of 1,411 units in July, reflecting 33% growth in sales. The strong showing from PCs has managed to boost its year-to-date performance by 22% to a total of 9,307 units. The Korean brand’s PC sales was kept healthy by the outstanding performance from the EON and Accent, both of which posted 191% and 69% year-on-year growth in July.
However, Light Commercial Vehicle segment (LCV) was unable to keep pace with the stellar growth of the PC segment. Sales for the LCV front dropped by 31% to only 541 units sold in July. Meanwhile, the year-to-date sales performance of LCV segment declined by 18% totaling to 4,296 units. Notwithstanding the LCV segment’s lackluster performance, the Grand Starex outperformed with 34% growth in sales for the month of July banking on its established brand presence in the Philippines.
Over-all, Hyundai’s sales tally for the first seven months of the year reached a total of 13,603 units or up by 6% compared to the same period last year.
Sales and Economic Outlook
The Bangko Sentral ng Pilipinas (BSP) has decided to raise interest rate by 25 basis points as a pre-emptive response to temper the expanding inflationary environment. According to the BSP, notwithstanding the higher interest rate outlook, the economy is still expected to hit the 6.5% to 7.5% growth target this year. Consumer spending is seen to remain strong for the rest of the year due to the sustained US dollar remittance inflow from OFWs and the support from the BPO sector.
The automotive industry is expected to hit another double-digit growth this year due to favorable macroeconomic fundamentals.